Course Syllabus. Bachelor of Business Administration. Course Title Fundamental Financial Accounting. Prerequisite (s) -

Transcription

1 Course Syllabus Program of Study Faculty/Institute/College Bachelor of Business Administration Mahidol University International College Course Code ICMB 211 Number of Credits Course Title Fundamental Financial Accounting (-0) (Lecture / Lab) Prerequisite (s) - Type of Course Core Course Trimester / Academic Year First, Second, Third / 200 Course Description Business transactions and financial statements; evolution of accounting; recording and classifying financial transactions; preparation of financial statements, characteristics of various types of accounts; accounting principles; the usefulness and limitations of accounting information. Course Objective (s) The purpose of this course is to introduce students the role of accounting as a window through which to see how economic events affect business. The students will learn conceptual framework as well as accounting procedures. The emphasis will be on preparing and using accounting information for financial analysis. Course Outline Topic Instructor Week Lecture Hour PART f1: FINANCIAL REPORTING AND THE ACCOUNTING CYCLE (Chapter 1-) 1 2 INTRODUCTION CHAPTER 1: ACCOUNTING INFORMATION: USERS AND USES The purpose of Accounting Users of Accounting Information Accounting Environment (Please read especially on So, Why Should I Study Accounting? page 21) CHAPTER 2: FINANCIAL STATEMENTS: AN OVERVIEW Accounting Equation The Financial Balance Sheet Income Statement Statement of Retained Earnings or Statement of Changes in Owners

2 3 Changes in Owners Equity Statement of Cash Flows Notes to Financial Financial Statement Analysis Fundamental Concepts and s C H A P T E R 3 : T H E M E C H A N I C S O R ACCOUNTING Transaction Analysis Recording Journal Entries P osti n g Jou r n a l Entries Unadjusted Trial Balance CHAPTER : COMPLETING THE ACCOUNTING CYCLE Accrual Accounting Adjusting Entries & A d j u s t e d T r i a l Balance Preparing Financial Analyzing Financial Closing Entries & Post-closing Trial Balance 5 6 PART f2: OPERATING ACTIVITIES (Chapter 5-7) CHAPTER 6: SELLING A PRODUCT OR A SERVICE Major Activities of A Business R e v e n u e Recognition Cash Collection A c c o u n t i n g f o r U n c o l l e c t i b l e Accounts Internal Control for Cash Bank Reconciliation CHAPTER 7: INVENTORY Inventory and Cost of Goods Sold A c c o u n t i n g f o r Inventory Purchases and Sales Perpetual Inventory System Periodic Inventory System Inventory Cost Flow s

3 s Specific Identification Cost Flow FIFO Cost Flow LIFO Cost Flow Average Cost Flow PART f3: INVESTING AND FINANCIAL ACTIVITITES (Chapter 9 12) C H A P T E R 9 : INVESTMENTS IN PROPERTY, PLANT, AND EQUIPMENT AND INTANGIBLE 7 ASSETS N a t u r e o f Operational Assets A c q u i s i t i o n o f Operational Assets D e p r e c i a t i o n Methods Straight-line Method Units-of-Production Method Declining-Balance Method Sum-of-the-Years - Digits Method C h a n g e i n D e p r e c i a t i o n Estimates D i s p o s a l o f Operational Assets Intangible Assets Natural Resources CHAPTER 10: LONG-TERM 8 9 DEBT FINANCING T i m e Va l u e of Money Concept Introduction Long-term Liabilities Notes Payable Bonds Payable CHAPTER 11: EQUITY FINANCING Different Forms of B u s i n e s s Organizations Corporations and Corporate Stock Issuance of Stocks Stock Repurchase D i v i d e n d Distribution CHAPTER 12: INVESTMENT IN DEBT AND EQUITY SECURITIES

4 S A c c o u n t i n g f o r 10 Investments He l d -to-ma tu r i ty Securities E q u i t y M e t h o d Securities T r a d i n g a n d Available-for-Sales Securities PART f: OTHER DIMENSIONS OF FINANCIAL REPORTING (Chapter 13) C H AP TE R 1 3 : T H E STATEMENT OF CASH 11 FLOWS The Purpose of Statement of Cash Flows Classifications of Cash Flows Operating Activities Investing Activities Financing Activities P r e p a r a t i o n o f Statement of Cash Flows Direct Method Indirect Method WRAP UP AND REVIEW 12 FINAL EXAMINATION Total Teaching Method (s) Reading Assignments The students are required to read the chapter specified in the course schedule before class. Exercises During the lecture, the lecturer will give the in-class exercises, which help clarifying the topics being discussed. Also, students are recommended to do suggested exercises. The questions are in the text. The solution to the suggested exercises is included in the course package for every chapter. Teaching Media The instructor will provide the course package for every chapter to students before class time. The package includes chapter summary, PowerPoint slides, in-class exercises, solution to suggested exercises. The instructor will utilize the PowerPoint slides and on-line examples in teaching. Measurement and evaluation of student achievement Quizzes The 20-minute quiz will be given for every 2-3 chapters covered. There will be 6 quizzes (20 points each) throughout the course. The best scores from 5 quizzes (100 points) will be counted 15% towards the grade.

5 Exams There are 2 tests in this course. The students must be able to integrate all materials discussed and must be able to use accounting information as a means for financial analysis. Note to students: There will be no make-up exams or make-up quizzes for any reasons. Dishonesty during the quizzes and tests will result in an immediate F grade in this course and suspension according the MUIC Rules and Regulations. Course evaluation Tentative Grading Midterm Examination 0% Final Examination 5% Quizzes & Assignments 15% Total 100% Reference (s) Required Text and Materials INCLUDEPICTURE cvr_accounting.gif \* MERGEFORMATINET Recommended Text and Materials Williams, Haka, and Bettner, and Meigs. Financial Accounting 11 th Edition. Irwin/McGraw-Hill, The Institute of Certified Accountants and Auditors of Thailand. Thai Accounting Standards. Instructor (s) orapan@tu.ac.th Office hour: by appointment Course Coordinator Asst. Prof. Sarayut Nathaphan PAGE PAGE 90 PAGE Albrecht, Stice, Stice, and Skousen. Financial Accounting 8 th Edition. South-Western, 2002.

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